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    • AdventureWanted
    • By AdventureWanted 8th Oct 17, 10:10 PM
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    AdventureWanted
    Adventure wanted, but first we must rid ourselves of debt
    • #1
    • 8th Oct 17, 10:10 PM
    Adventure wanted, but first we must rid ourselves of debt 8th Oct 17 at 10:10 PM
    I’ve ummed and aahed about starting a diary on here for a couple of months, but have decided that it is a good way for me to keep track of how our debt reduction is going and hopefully on those dark days when it feels like we’re getting nowhere I can remind myself of how things have improved.

    Anywho, I’ll give a brief overview of our life/debt.

    I’m a Mum to 3 Kids. Hubby is self employed and I Home educate the older 2 Kids. In August I finally had enough of our debts and decided to do something about it. After reading lots of diaries I downloaded ynab and took control of our budget. Our debts are due to a car loan, house repairs and mostly a lack of control over finances so monthly spending got out of control and we didn’t really have much to show for it.

    As at 1 August (LBM) our debts were:-
    CC1 - £5,185
    CC2 - £13,470
    Cc3 - £11,400

    All of the credit cards are 0% and will be balance transferred to new 0% cards if we haven’t paid them off at the end of the 0% deal.

    The future -
    We would love to travel. Firstly we’d love to visit every county in the uk and then travel further afield to the likes of Canada and Australia. Hubby and I regret not taking the opportunities to see the world pre children, but are now very keen to share these adventures with our kids.

    We’d love to move to our forever family home, although we have no idea where in the country this would end up being in!

    And more than those above we’d love to have savings for our children’s futures and not waste the extortionate amount of money we do each month on debt repayments.

    I’ll post my current debt situation post LBM in the next post.x
    LBM Aug 2017. DFD - Oct 2020 / Dec 2021
    CC1 - £0 / £5,185 1/8/17. CC2 - £0 / £13,470 1/8/17. CC3 - £9,995.00 / £11,400 1/8/17
    CC4 - £11,830.00 / £13,000 20/11/17
    2018 1% challenge - #1 - 70%.
    PAYDBX 2018 - #29 Pd £8,855.60 / £12,500
Page 17
    • AdventureWanted
    • By AdventureWanted 28th Jun 18, 5:13 PM
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    AdventureWanted
    Have had a busy day today. Have started bagging up some old maternity clothes ready for storing in the loft (until we make a decision on any further kids). I was just going to put them all in the loft, but think I'm going to have another look through them and only keep the bits that I really like. Same goes for all the clothes the DC outgrow.

    Sold an outfit on eBay yesterday for £5, which I'm pretty happy about. Think I'm going to put all items to be put on eBay in a box, then when I have a free moment I can photograph them and then create eBay listings at a separate point. Really need to find the motivation to get decluttering, as I think it will improve my mood no end. I'm getting fed up with the house always being cluttered and not having time to do everything. Think if the house was more minimalistic (obviously not really minimalistic, as think this would be impossible with 3 DC!) then cleaning would be so much easier. Might try and find some good decluttering books to motivate me. I usually read Milly Johnson's 'a spring affair' when I need to get into the decluttering mood, but it didn't seem to work last time. All I felt was frustrated that the character was wealthy enough that they didn't have to eBay things and instead could just charity shop things or shove it in a skip! At this point hiring a skip would be too expensive for us!!

    Have been reviewing the budget and credit card projections today. At the moment we pay £180 dd to CC2, £120 dd to CC3, £130 dd to CC4 and an additional £325 to CC2 on payday. CC2 should be paid tomorrow, so the question is do I pay the £180 and £325 off CC3 from July onwards or put it towards the EF. CC3s 0% ends in Dec 2019. As my budgets have been so ridiculously tight the last few months I was going to reduce the amount being paid towards debt by £200. This should stop me dipping into the business account to rebalance the budget, which is an old habit I've restarted doing. On the plus side my savings accounts are still looking good.
    • AdventureWanted
    • By AdventureWanted 29th Jun 18, 8:39 AM
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    AdventureWanted
    Payday - hooray! I've paid £325 off CC2 which has taken the balance to £0 . Really pleased to have another CC gone. Need to phone up and cancel the card soon, although never sure whether to keep it open for our credit rating. The other cards balances are fairly close to their limits, so not sure if it's better to have more available unused credit...

    June debt roundup

    CC1 - £0
    CC2 - £0
    CC3 - £10,095
    CC4 - £11,960

    Total debt at 29/6/18 - £22,055
    (Total debt at 30/5/18 - £23,305)

    Next month we'll get into the £21ks, which will be another milestone crossed.

    Goals for the rest of 2018.
    1) Get EF to £2,500
    2) Reduce debt to £18,000.

    Main aim for the next few months will be increasing the EF. I think this will make me feel slightly more secure, especially as DH is self employed. Ideally I'd like the EF to be £3,800 minimum, but think at the moment this would be a challenge too far. So I'm going for baby steps!
    • jwil
    • By jwil 29th Jun 18, 12:22 PM
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    jwil
    Have a good weekend
    "If you can dream it, you can do it". Walt Disney
    • AdventureWanted
    • By AdventureWanted 2nd Jul 18, 6:44 AM
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    AdventureWanted
    Have a good weekend
    Originally posted by jwil
    Thanks Jwil. Hope you had a good weekend
    • AdventureWanted
    • By AdventureWanted 2nd Jul 18, 6:50 AM
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    AdventureWanted
    Today's pads

    £3 to CC3
    36p to debt savings
    £200 to EF

    EF is currently at £1,445. Only £1,005 to go to get to my 2018 target!

    Rather than sending the debt savings to the variable bit of the mortgage, I might send it to the EF at the end of the month. DH is paying an extra £20 pm to the variable mortgage, so we've doubled the payment being made on it. Sooner I can get the EF higher the better.
    • AdventureWanted
    • By AdventureWanted 3rd Jul 18, 8:17 AM
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    AdventureWanted
    Just finished updating ynab, so all the bank accounts & credit cards are now reconciled.

    Have paid £4 to CC3 today, taking the amount paid to debts so far this year to £8,632.60. That really is an eye watering sum, especially as there is still so much to go. Going to go and redo the snowball calculator and figure out my DFD. I should be able to pay it all off by Oct 2020 when CC4s 0% ends, although ideally I'd love it gone sooner, but not sure if this is possible.
    • Rachel24
    • By Rachel24 3rd Jul 18, 8:38 AM
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    Rachel24
    £8632 is amazing :-)
    • abba1772
    • By abba1772 3rd Jul 18, 9:37 AM
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    abba1772
    Just finished reading your diary tookme two days

    I'm also a mum of three t I don't home ed.........hats off to you it's not something I could do I love my kids but I love a bit of time away from them and they are the same

    Fab amounts on the debt repayment front your smashing your target

    I'll be subscribing to your diary xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £983.26
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £7278.80 POAMAYC 2018 £4782.14
    • AdventureWanted
    • By AdventureWanted 4th Jul 18, 7:34 AM
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    AdventureWanted
    £8632 is amazing :-)
    Originally posted by Rachel24
    Thank you
    • AdventureWanted
    • By AdventureWanted 4th Jul 18, 7:35 AM
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    AdventureWanted
    Just finished reading your diary tookme two days

    I'm also a mum of three t I don't home ed.........hats off to you it's not something I could do I love my kids but I love a bit of time away from them and they are the same

    Fab amounts on the debt repayment front your smashing your target

    I'll be subscribing to your diary xx
    Originally posted by abba1772
    Hi,
    Thanks for popping by. I'm sure my diary is highly boring and full of whinging, but it's nice to have people along for the ride .
    • AdventureWanted
    • By AdventureWanted 4th Jul 18, 7:50 AM
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    AdventureWanted
    So yesterday I started the mammoth job of sorting through the clothes the DC have outgrown. I had started to just bag everything up in vacuum bags ready to put in the loft, but my mum popped round and was so horrified at the amount of stuff I had (her exact words were how many clothes does 1 child need. You only have 1 child not twins!!), that I've reduced the amount I'm keeping and only keeping my favourite outfits. I still feel weird getting rid of so many clothes, as IF we decided to have more kids (it's a big IF at the moment, as DC3 is still young and sleeps terribly!) I would have to buy loads of new bits. Again my mum said that I'd most probably buy new bits anyway and others would too, so again I definitely can see her logic.

    So far I have 2 huge bin bags full of clothes to bundle up and sell. In all reality I'd most probably only get £30 for it all, but still I guess it's extra money. It's actually quite satisfying sorting through the stuff and not keeping as much. Hopefully today I can get some more done and my bedroom will start to look slightly less cluttered. They say that it's important that your bedroom should be tranquil and clear of clutter, but at ours it's the most cluttered, as we have the floor space to store stuff. Really looking forward to the day when the house is clearer, cleaning won't take as long and hopefully I'll feel happier living here. I tend to swing wildly between wanting to move to a bigger house which would be able to hold all our stuff and being content with the familiarity of our house/village.

    Money wise, I've rounded down the bank accounts sending £2 to CC3 and 9p to debt savings.
    • enthusiasticsaver
    • By enthusiasticsaver 4th Jul 18, 8:08 AM
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    enthusiasticsaver
    I think most of us tend to keep more clutter the bigger our house is so buying a bigger house would just mean you decluttering less often as more space to store stuff. Selling stuff is worth it as all the little bits add up.

    My DD had her 2nd baby 11 weeks ago and is selling stuff now like maternity clothes, Moses basket and 0-3 clothes apart from a few favourites she is going to use on a memory quilt. She is adamant 2 DC is her limit though as she doesn't have good sleepers and health issues in both pregnancies and 2 c sections have convinced her no more. We stopped at 2 as well. We couldn't have coped or afforded 3 or 4 as we liked our holidays which would be very expensive and childcare costs for more than 2 would be high.

    You are doing brilliantly with the debt reductions.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • AdventureWanted
    • By AdventureWanted 5th Jul 18, 6:45 PM
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    AdventureWanted
    I think most of us tend to keep more clutter the bigger our house is so buying a bigger house would just mean you decluttering less often as more space to store stuff. Selling stuff is worth it as all the little bits add up.

    My DD had her 2nd baby 11 weeks ago and is selling stuff now like maternity clothes, Moses basket and 0-3 clothes apart from a few favourites she is going to use on a memory quilt. She is adamant 2 DC is her limit though as she doesn't have good sleepers and health issues in both pregnancies and 2 c sections have convinced her no more. We stopped at 2 as well. We couldn't have coped or afforded 3 or 4 as we liked our holidays which would be very expensive and childcare costs for more than 2 would be high.

    You are doing brilliantly with the debt reductions.
    Originally posted by enthusiasticsaver
    Thanks ES. I've finished sorting through the clothes I had and now have 5 different sized boxes of clothes to sell . Is quite daunting starting the task of listing it all, but it will be nice when it's gone and we have some extra cash. Was actually amazed at the amount of stuff we had! Might get DH to bring down some more bits from the loft once I've got rid of all this lot.

    I checked my topcashback account earlier and I've got £71.43 payable and £40.40 pending . I've been able to transfer £35.68 of the amount payable, but for some reason can't transfer all of it. Will try again in a few days. Am going to put the £35 in the EF. Think with any further cash back and money from things I sell I might split the money (depending on the amount) between debt repayments, EF and maybe a small bit towards a day out or home improvements.
    • AdventureWanted
    • By AdventureWanted 6th Jul 18, 8:13 AM
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    AdventureWanted
    Have rounded down the bank account this morning and transferred £5 to CC3 and 31p to debt savings.

    Didn't achieve as much yesterday as I had hoped, as I didn't feel brilliant. Think I was really overtired. Hopefully today I can be super productive and get lots done. Really want to continue the decluttering this weekend, especially as my parents have offered to store the bits I want to sell as they have more space .
    • jwil
    • By jwil 9th Jul 18, 1:53 PM
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    jwil
    Well done on clearing CC2 and the decluttering. If you haven't already closed it, I'd keep it open in the hope of getting a 0% deal for when one of your others expires.
    "If you can dream it, you can do it". Walt Disney
    • AdventureWanted
    • By AdventureWanted 9th Jul 18, 10:17 PM
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    AdventureWanted
    Thanks Jwil . That's a good idea to keep it open for 0% deals. Might reduce the credit limit a bit, as it's just been increased to a ridiculous £14.5k .

    The dd for cc4 has come out today, which has moved the debt total in to the £21ks .

    Managed to transfer the top cashback money across, but didn't manage to move it to the EF quick enough! Our flooring in our cloakroom is ruined beyond repair, so DH managed to pick up some cheap tiles to replace it with. I'm glad we've been able to use "free" money to buy it, but slightly annoyed I couldn't increase the EF balance.
    • jwil
    • By jwil 10th Jul 18, 2:38 PM
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    jwil
    Well done on being in the £21ks Annoying about the floor, but at last it's 'free'.
    "If you can dream it, you can do it". Walt Disney
    • AdventureWanted
    • By AdventureWanted 10th Jul 18, 6:58 PM
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    AdventureWanted
    Today I've rounded down the bank account and sent £3 to CC3.

    Have been sorting out our living room today and my goodness it's exhausting! I've managed to move our large corner sofa, remove the tonne of toys hidden underneath, hoover under it and even hoovered down the crease at the back & sides of the sofa. I've started the toy declutter, but can't really do it with the DC about, as DC1 especially gets very upset at the mention of selling any of their toys, even if they no longer play with it! Think I'll just continue to sneak bits out without them noticing!

    DH has been offered a new contract job in Wales, which is miles away from where we live now. They've offered to pay an accommodation allowance, but it wouldn't cover the kind of property we would need. DH is keen to go (it's only for 3 months), but I don't want to have to live in a tiny house for 3 months, when we have a perfectly good house here. It's hard as I do love wales and I've been saying I want to travel for ages, but I'm just not sure we're ready yet. If we didn't have the debts then spending an additional £500 on rent/bills wouldn't be a problem, but I begrudge spending it when we have so much else to pay off. I guess I've kind of made up my mind that I don't want to go at this present moment in time, but am worried it might scupper DH's chances of working there in the future .
    • AdventureWanted
    • By AdventureWanted 10th Jul 18, 7:01 PM
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    AdventureWanted
    I should add that the new contract would only pay an extra £20 a day. We'd keep our house here and have to rent for the 3 month period (if we could get a short term let). So overall if we had to pay £500 toward rent/bills we'd be about £200 out of pocket. This isn't too bad for travelling to somewhere new and experiencing somewhere different, but we can't really afford a 3 month holiday yet.
    • AdventureWanted
    • By AdventureWanted 12th Jul 18, 9:04 PM
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    AdventureWanted
    Managed to sell a baby toy yesterday, which has been sat on top of my cupboard for over 6 months. Sold it within a day of listing and got the full £15 I wanted . Does kind of make me wonder why I took so long to do it! I've been slowly tidying/sorting the DCs toys, although it still doesn't look any better at the moment! I've got a bag of stuff to go to the charity shop and a box on the go of things to sell. I managed to clear out my understairs cupboard, so it's become a handy place to stash toys I want to sell without the DC noticing!

    Next month my sister is taking part in a village yard sale, so anything I haven't managed to sell by then will be taken along to that. Gives me a deadline to sort things out, so hopefully will motivate me to carry on decluttering and listing them on eBay/gumtree/FB.

    Popped in to our local city today to have a look at the build a bear pay your age day. I'd stupidly mentioned it to DC1&2 and said we could go along. They are both Pokemon mad and thought it would be good to get the teddies for a fraction of the cost. We turned up at 9.05 and the queue was horrific! We waited 20 mins before I gave up and promised to spend the money we would have spent (£14) on a toy for them both instead. A friend of mine arrived at 8.30 and it took her 3 hours to get into the shop .

    I transferred £6 to CC3 today. Have been doing lots of surveys in PA today and once processed I should have finally got to the £20 payout figure . Need to find my log in details for swagbucks and start doing this again too.
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